The carbon emission trading policy is a key policy for China to achieve its dual carbon goals.This paper aims to examine the emission-reduction effects,transmission mechanisms,and carbon-market efficiency of China’s ...The carbon emission trading policy is a key policy for China to achieve its dual carbon goals.This paper aims to examine the emission-reduction effects,transmission mechanisms,and carbon-market efficiency of China’s carbon-emission trading policy from 2012 to 2023.We adopt the difference-in-differences(DID)model to analyze the effects of policy on emissions,and the empirical results from the DID model confirm that the pilot carbon emission trading policy has significantly reduced carbon emission intensity in pilot areas.Then we use the mediation model to study the transmission mechanism of the pilot carbon emission trading policy,and the mediation analysis demonstrates that the pilot carbon emission trading policy achieves emission abatement through four parallel transmission channels:scientific innovation,energy conservation,clean energy substitution,and industrial structure upgrading.Data envelopment analysis evaluates the carbon market efficiency of China.The result shows that the average carbon market efficiency of pilot areas has improved steadily,particularly from 2012 to 2023,especially in Beijing,Hubei,and Guangdong.Moreover,the efficiency of the national carbon market has shown an upward trend since its 2021 launch;it remains lower than the pilot average,constrained primarily by limited sectoral coverage,which impacts scale efficiency.展开更多
Objective To provide effective decision making for the subsidy policies given by the government to pharmaceutical enterprises and the coordination model adopted by pharmaceutical stakeholders under the carbon emission...Objective To provide effective decision making for the subsidy policies given by the government to pharmaceutical enterprises and the coordination model adopted by pharmaceutical stakeholders under the carbon emission trading policy.Methods The Stackelberg model was used to discuss the optimal profits of each member and the whole supply chain under different decision-making models while considering the technical capacity of emission reduction and cost sharing contract.Based on this,the impact of the combined contract decisionmaking model on the technical efforts of drug manufacturers to reduce carbon emission,the profits of supply chain members and the overall profits of supply chain was investigated.Results and Conclusion Research has found that improving the research and development efforts of emission reduction technologies by pharmaceutical enterprises can increase drug sales and enhance the expected profits of pharmaceutical supply chain members.The members of the secondary pharmaceutical supply chain can achieve the optimal expected profit when reaching cooperation.Besides,when the cost sharing contract and quantity discount contract meet the constraint conditions,the combined contract decision model can perfectly coordinate the pharmaceutical supply chain,enabling supply chain members to achieve Pareto improvement and gradually reach Pareto optimum.展开更多
Assessing the effectiveness of carbon trading policy is conducive to analyzing the existing problems and achievements at the current stage and promoting the development of the next stage, playing an important role as ...Assessing the effectiveness of carbon trading policy is conducive to analyzing the existing problems and achievements at the current stage and promoting the development of the next stage, playing an important role as a link between the preceding and the following. Through the research on carbon trading policies, we can evaluate the effectiveness of carbon trading policies by selecting two indicators, namely, the reduction of carbon dioxide emissions per unit GDP and the energy consumption per unit GDP, and point out the shortcomings of carbon trading policies at this stage through evaluation and analysis, so as to provide reference for improving the effectiveness of carbon trading policies.展开更多
Rapid economic development usually leads to serious environmental pollution problems.In order to solve the problem of pollutant emission in sustainable industrial development,it is urgent to examine the implementation...Rapid economic development usually leads to serious environmental pollution problems.In order to solve the problem of pollutant emission in sustainable industrial development,it is urgent to examine the implementation effect of emissions trading policy(ETP)and its impact on green industrial development.This study adopts China's ETP as a case study and selects provincial panel data from 2004 to 2018.We first use a non-radial,non-directed,slack-based measure-directional distance function(SBM-DDF)to measure industrial green innovation efficiency.Then we use a difference in differences(DID)model to empirically test the emissions reduction effect of China's policy and whether it promotes industrial green innovation.Thereafter,results show that:(1)the ETP reduces sulfur dioxide(SO2)emissions indicating the effectiveness of the policy;(2)the policy significantly improves industrial green innovation efficiency,meaning it promotes the sustainable development of the economy;(3)heterogeneity analysis highlights that ETP produces greater benefits for the most polluted regions of China which have more strict environmental regulations.The study examines the effect of emissions trading policy implementation from a new perspective.The study also provides a reference point for China to further refine its policy mechanisms and for other countries to formulate suitable ETP.展开更多
Hainan is transforming into a world-class hub,with expanded free trade policies,robust infrastructure and global business opportunities The Hainan Free Trade Port(FTP)officially launched island-wide special customs op...Hainan is transforming into a world-class hub,with expanded free trade policies,robust infrastructure and global business opportunities The Hainan Free Trade Port(FTP)officially launched island-wide special customs operations on 18 December 2025.One month in,reporters from China International Communications Group(CICG)conducted an exclusive interview with Feng Fei,secretary of the Hainan Provincial Committee of the Communist Party of China(CPC)and chairman of the Standing Committee of the Hainan Provincial People’s Congress.展开更多
With intensifying global climate change,humanity is confronted with unparalleled environmental challenges and risks.This study employs the staggered difference-in-difference model to examine the relationship between c...With intensifying global climate change,humanity is confronted with unparalleled environmental challenges and risks.This study employs the staggered difference-in-difference model to examine the relationship between climate policy and green innovation in the corporate financialization context.Using Chinese-listed company data from 2008 to 2020,our analysis reveals a favorable correlation between China’s carbon emission trading policy(CCTP)and advancements in green innovation.Furthermore,we find that the level of corporate financialization moderates this correlation,diminishing the driving effect of CCTP on green innovation.Additionally,results of heterogeneity analysis show that this moderating consequence is more evident in non-state owned and low-digitization enterprises compared with state-owned and high-digitization ones.Our findings contribute to the existing literature by clarifying the interaction between CCTP,green innovation,and corporate financialization.Our research provides valuable insights for policymakers and stakeholders seeking to strengthen climate policies and encourages green innovation in different types of businesses.展开更多
THE Hainan Free Trade Port(FTP)officially launched island-wide special customs operations on December 18,2025.One month in,a reporting team from China International Communications Group(CICG)conducted an exclusive int...THE Hainan Free Trade Port(FTP)officially launched island-wide special customs operations on December 18,2025.One month in,a reporting team from China International Communications Group(CICG)conducted an exclusive interview with Feng Fei,secretary of the Hainan Provincial Committee of the Communist Party of China(CPC)and chairman of the Standing Committee of the Hainan Provincial People’s Congress.展开更多
Established within the framework of the World Trade Organization （WTO）, the Trade Policy Review Mechanism （TPRM） reviews periodically the trade policies of all WTO Members. The review includes many aspects of food...Established within the framework of the World Trade Organization （WTO）, the Trade Policy Review Mechanism （TPRM） reviews periodically the trade policies of all WTO Members. The review includes many aspects of food safety regulation. China＇s trade policy is reviewed every two years. This paper analyses in detail the reviews of China＇s trade policy in 2006, 2008, 2010, 2012 and 2014. It focuses in particular on food safety laws and types of standards, alignment of domestic standards with international standards, the role of different domestic institutions, transparency and notification of food safety measures under the WTO agreements on Sanitary and Phytosanitary Measures （SPS） and on Technical Barriers to Trade （TBTAgreement）, import and export, and geographical indications （GIs）. It concludes that the WTO TPRM can contribute, within its mandate, to reform of Chinese food safety laws and improvement of food safety in China. it notes that China has already undertaken substantial reforms of its system for regulating food safety. It recommends that China should continue to participate actively in the TPRM, follow its own path with regard to alignment and learn selectively from other WTO Members.展开更多
This paper aimed to highlight the effects of conflict in Mongolia on trade policy and openness, by estimating the trade flows with neighbor countries （China and Russia）. Fourteen years＇ （2000-2013） data of Mongol...This paper aimed to highlight the effects of conflict in Mongolia on trade policy and openness, by estimating the trade flows with neighbor countries （China and Russia）. Fourteen years＇ （2000-2013） data of Mongolian imports and exports were collected and gone through principal component analysis （PCA） and empirical analysis for grouping various trades with China and Russia. The empirical analysis identified the determining factors of Mongolian trade flow and openness with China and Russia. Empirical analysis evidenced that Mongolian trade and openness policy raised bilateral trade between China and Russia, leaving a great influence on economic size. Two main questions represented as empirically tested by each sample country. How did Mongolian trade policy and openness influence trade flows between China and Russia and economic growth of Mongolia？ Did Mongolian trade policy and the bilateral trade with China and Russia increase on trade openness？ Finally, the study focused on the forecasts from 2016 to 2018 to examine Mongolian trade flows with China and Russia using ordinary least squares method and autoregressive-moving-average （ARMA） model. China-Mongolia-Russia trade flows will continue to dominate during the forecasted period. As shown by the structure of export and import, goods with China and Russia influenced the mutual trade amount. Moreover, China and Russia traded to continue with Mongolia for goods in long run. Trade policy and openness, the major contributor in Mongolian economy, are significantly playing roles in trade and economy.展开更多
Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalizatio...Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalization. Nevertheless, several recent internal and external factors e.g. the massive SARS and avian flu outbreaks, the Indian Ocean tsunami devastation, the Asia financial crisis and domestic policy reforms （ICSEAD, 2006） have also impeded this policy. While the issues are important for Thailand and developing countries in Asia, only limited research has been undertaken to investigate them. The paper conducts a substantive quantitative study to contribute to these trade and development policy issues. A new econometric modelling policy method, namely the generalized gravity theory （Tran Van Hoa, 2004） is used to develop a simple flexible simultaneous-equation econometric model of Thailand＇s openness model with its seven major trade partners （ASEAN-4, Australia, the USA, the EU, China, Japan and India）. Using data from the ICSEAD, the World Development Indicators and the Bank of Thailand databases, the paper reveals efficient and reliable empirical findings on trade-growth causality, trade determination including the impact of shocks and policy reform on trade and growth between Thailand and its major trade partners over the past two decades. The paper also provides evidence on the linkages between trade in goods, FDI and services and regional economic integration for more credible policy implications.展开更多
We present a novel tool for generating speculative and hedging foreign exchange(FX)trading policies.Our solution provides a schedule that determines trades in each rebalancing period based on future currency prices,ne...We present a novel tool for generating speculative and hedging foreign exchange(FX)trading policies.Our solution provides a schedule that determines trades in each rebalancing period based on future currency prices,net foreign account positions,and incoming(outgoing)flows from business operations.To obtain such policies,we construct a multistage stochastic programming(MSP)model and solve it using the stochastic dual dynamic programming(SDDP)numerical method,which specializes in solving high-dimensional MSP models.We construct our methodology within an open-source SDDP package,avoiding implementing the method from scratch.To measure the performance of our policies,we model FX prices as a mean-reverting stochastic process with random events that incorporate stochastic trends.We calibrate this price model on seven currency pairs,demonstrating that our trading policies not only outperform the benchmarks for each currency,but may also be close to ex-post optimal solutions.We also show how the tool can be used to generate more or less conservative strategies by adjusting the risk tolerance,and how it can be used in a vari-ety of contexts and time scales,ranging from intraday speculative trading to monthly hedging for business operations.Finally,we examine the impact of increasing trade policy uncertainty(TPU)levels on our findings.Our findings show that the volatility of currencies from emerging economies rises in comparison to currencies from devel-oped markets.We discover that an increase in the TPU level has no effect on the aver-age profit obtained by our method.However,the risk exposure of the policies increases(decreases)for the group of currencies from emerging(developed)markets.展开更多
In this research work, the author focuses on the analysis of the trade interests in foreign policy of the Global South. What indicates the importance and innovativeness of the research is the presentation of the new m...In this research work, the author focuses on the analysis of the trade interests in foreign policy of the Global South. What indicates the importance and innovativeness of the research is the presentation of the new models of the foreign trade policy and trade interests of Global South. First of all, it must underline that in the new theoretical terms in the demand for trade policy very important is factor specificity. The low specificity of factors means that factor returns are equalized throughout a region＇s economy. Moreover, some factors are stuck in their present uses; therefore, factor returns are not equalized throughout a region＇s economy, but are industry specific. The main objective of the research task is to give a comprehensive analysis of the models of foreign trade policy, trade interests indicated by export orientation and import sensitivity, protectionistic pressures in different political system and different types of authoritarian regimes of Global South, the level of protectionistic pressures, the rise of qualitatively new politics in North-South relations like bilateral tendencies. It should be stressed that free trade in itself is not responsible for economic growth, but more significant are the determining macroeconomic stability and increasing investment of Global South.展开更多
In this research work, the author focuses on the analysis of the diffusion of bilateral tendencies in the common trade policy of the European Union （EU） during the global financial and economic crisis. Realistic poi...In this research work, the author focuses on the analysis of the diffusion of bilateral tendencies in the common trade policy of the European Union （EU） during the global financial and economic crisis. Realistic point is important trends in the trade regime during the economic crisis. The decisions taken by the representatives of the governments participating in the World Trade Organisation （WTO） are, to a significant degree, influenced by various lobbies, such as organisations and unions of food producers or other non-governmental organisations, including trade unions, The main objective of the research task is to give a comprehensive analysis of the international trade policy during the world financial and economic crisis 2008-2010. The particular mains concern the political economy models of foreign trade policy, protectionistic pressures in different political system, the level of protectionistic pressures, food producer pressures, international trade liberalization, and environmental protection bilateral tendencies in the common trade policy of the EU and the respond of the EU to the economic crisis, it must be emphasized that on a theoretical level, understanding the choice of trade policies between liberalizm and protectionisme is very important. Despite the undeniable benefits of the multilateral WTO forum for trade liberalisation, the rapid increase of North-South bilateral and multilateral Free Trade Areas （FTAs） begs a systematic explanation for why some forums are prioritized relative to others.展开更多
China is Korea’s main trade partner in East Asia and one of its key economic and trade partners worldwide.The two countries have complementary industrial structure and a long history of trade exchanges.However,agains...China is Korea’s main trade partner in East Asia and one of its key economic and trade partners worldwide.The two countries have complementary industrial structure and a long history of trade exchanges.However,against the backdrop of a return to global trade protectionism and the politicization of international affairs with Yoon Suk-yeol coming to power,South Korea has undertaken a strong trade shift toward the United States(US),triggering a change in the pattern of economic cooperation in East Asia and challenging the regional trade structure.A review of the trade policy agenda of the Yoon Suk-yeol administration toward the US and China,along with a comparative review of Korea’s foreign trade stance under Moon Jae-in,allows for an analysis of the turnaround and characteristics of Yoon’s trade policy toward China during his tenure.The implications for global trade governance and regional security are further analyzed with an aim of finding a Nash equilibrium in trade cooperation among East Asian countries.展开更多
The Southern Common Market (hereinafter referred to as MERCOSUR) is the most important regional organization in South America,and its major member countries are also important import sources of bulk agricultural produ...The Southern Common Market (hereinafter referred to as MERCOSUR) is the most important regional organization in South America,and its major member countries are also important import sources of bulk agricultural products in China.In recent years,amid increasing uncertainty in global trade policy,MERCOSUR has accelerated the signing of free trade agreements with other countries and diversified its trading partners to reduce the risks posed by the international market.展开更多
The Asia-Pacific region is the most dynamic part of the global economy.After over 50 years of continuously expanding trade,investment and industrial cooperation,the region has formed a highly-tied multi-level labor di...The Asia-Pacific region is the most dynamic part of the global economy.After over 50 years of continuously expanding trade,investment and industrial cooperation,the region has formed a highly-tied multi-level labor division system covering vertical integration and horizontal complementarity of industrial chains.From the V-shaped development model in the twentieth century to the East Asian production network in the twenty-first century,the intra-industry and intra-product division of labor in the Asia-Pacific region has been ever deepening.However,due to the region’s high dependence on the U.S.market,the division of labor model in the Asia-Pacific suffers structural problems and is relatively fragile.Under the shock of Trump 1.0,countries in the Asia-Pacific region were forced to make adaptive adjustments,causing short-term turmoil in the regional economic order.Trump’s strong return in 2025,driven by the“America First”principle,brought forth a series of policies with strong unilateralism,isolationism and protectionism tendencies within just a few months。展开更多
Financial integration plays an important role in fostering global economic growth.Energy demand,technology transfer,sustainable production,and climate change have emerged as key drivers of sustainable development.This...Financial integration plays an important role in fostering global economic growth.Energy demand,technology transfer,sustainable production,and climate change have emerged as key drivers of sustainable development.This study explores the influence of financial integration,bolstered by renewable energy-induced trade,industry-driven technology,and environmental concerns,on regional economic growth.This study analyzes a panel of 39 high-and upper-middle-income European and Central Asian countries in 2017–2021.Using a panel generalized method of moments estimator,we reveal an inverted U-shaped relationship between regional economic growth and carbon emissions.Moreover,renewable energy-induced trade contributes positively to regional growth while trade openness and technology transfer further enhance this growth.Industry-driven technology negatively impacts regional growth owing to inadequate financial integration.The absence of sustainable energy infrastructure and industrialization also negatively impacts regional growth.Our study underscores the importance of increasing financial integration to promote sustainable energydriven trade openness and technology transfer in line with the United Nations’sustainable development agenda.展开更多
This paper attempts to investigate the effects of several financial and trade policies on the total investment in Syria, over the period 1980-2010 （before the current war）. The study employs Johansen co-integration ...This paper attempts to investigate the effects of several financial and trade policies on the total investment in Syria, over the period 1980-2010 （before the current war）. The study employs Johansen co-integration test to check the presence of long-term relationship between explanatory and dependent variables. In addition, Vector Error Correction Model （VECM） further studies the causal relationship from dependent variable to independent variables. The Johansen co-integration test indicates a significant long-term relationship among the variables. Moreover, the Vector Error Correction Model also suggests the long run causality from the imports, exports, capital public expenditures, and subsidies to total investment. The study’s result indicates that the imports and the capital public expenditures played a significant role in supporting the total investment in the country before the war, while there was a negative role of exports in the total investment, and there was no impact of subsidies on the total investment. Before the war, foreign investment in Syria was over dominated by European Union. The paper proposes to diversify the target of investment flow to Syria, especially from China and the other BRICS countries that can take advantages from Syria and can support Syria economy after the war by the strategy of “One Road One Belt”. Theseresults may assist Syrian policy makers, after the war, to develop an economic plan that takes into account the effects of these policies to improve the total investment which will help Syria in rebuilding the economy.展开更多
基金supported by the National Social Science Fund of China under Grant 25CJL064.
文摘The carbon emission trading policy is a key policy for China to achieve its dual carbon goals.This paper aims to examine the emission-reduction effects,transmission mechanisms,and carbon-market efficiency of China’s carbon-emission trading policy from 2012 to 2023.We adopt the difference-in-differences(DID)model to analyze the effects of policy on emissions,and the empirical results from the DID model confirm that the pilot carbon emission trading policy has significantly reduced carbon emission intensity in pilot areas.Then we use the mediation model to study the transmission mechanism of the pilot carbon emission trading policy,and the mediation analysis demonstrates that the pilot carbon emission trading policy achieves emission abatement through four parallel transmission channels:scientific innovation,energy conservation,clean energy substitution,and industrial structure upgrading.Data envelopment analysis evaluates the carbon market efficiency of China.The result shows that the average carbon market efficiency of pilot areas has improved steadily,particularly from 2012 to 2023,especially in Beijing,Hubei,and Guangdong.Moreover,the efficiency of the national carbon market has shown an upward trend since its 2021 launch;it remains lower than the pilot average,constrained primarily by limited sectoral coverage,which impacts scale efficiency.
文摘Objective To provide effective decision making for the subsidy policies given by the government to pharmaceutical enterprises and the coordination model adopted by pharmaceutical stakeholders under the carbon emission trading policy.Methods The Stackelberg model was used to discuss the optimal profits of each member and the whole supply chain under different decision-making models while considering the technical capacity of emission reduction and cost sharing contract.Based on this,the impact of the combined contract decisionmaking model on the technical efforts of drug manufacturers to reduce carbon emission,the profits of supply chain members and the overall profits of supply chain was investigated.Results and Conclusion Research has found that improving the research and development efforts of emission reduction technologies by pharmaceutical enterprises can increase drug sales and enhance the expected profits of pharmaceutical supply chain members.The members of the secondary pharmaceutical supply chain can achieve the optimal expected profit when reaching cooperation.Besides,when the cost sharing contract and quantity discount contract meet the constraint conditions,the combined contract decision model can perfectly coordinate the pharmaceutical supply chain,enabling supply chain members to achieve Pareto improvement and gradually reach Pareto optimum.
文摘Assessing the effectiveness of carbon trading policy is conducive to analyzing the existing problems and achievements at the current stage and promoting the development of the next stage, playing an important role as a link between the preceding and the following. Through the research on carbon trading policies, we can evaluate the effectiveness of carbon trading policies by selecting two indicators, namely, the reduction of carbon dioxide emissions per unit GDP and the energy consumption per unit GDP, and point out the shortcomings of carbon trading policies at this stage through evaluation and analysis, so as to provide reference for improving the effectiveness of carbon trading policies.
基金This work was supported by the National Social Science Fund projects[No.20BJY010]National Social Science Fund Postfinancing projects[No.19FJYB017]+5 种基金Sichuan-Tibet Railway Major Fundamental Science Problems Special Fund[No.71942006]Qinghai Natural Science Foundation[grant numbers 2020-JY-736]List of Key Science and Technology Projects in China's Transportation Industry in the International Science and Technology Cooperation Project[No.2018-GH-006 and grant numbers 2019-MS5-100]Shaanxi Social Science Fund[No.2017S004]Xi’an Construction Science and Technology Planning Project[No.SZJJ201915 and No.SZJJ201916]Fundamental Research for Funds for the Central Universities(Humanities and Social Sciences),Chang’an University[No.300102231641,300102230612,300102281669,300102230503].
文摘Rapid economic development usually leads to serious environmental pollution problems.In order to solve the problem of pollutant emission in sustainable industrial development,it is urgent to examine the implementation effect of emissions trading policy(ETP)and its impact on green industrial development.This study adopts China's ETP as a case study and selects provincial panel data from 2004 to 2018.We first use a non-radial,non-directed,slack-based measure-directional distance function(SBM-DDF)to measure industrial green innovation efficiency.Then we use a difference in differences(DID)model to empirically test the emissions reduction effect of China's policy and whether it promotes industrial green innovation.Thereafter,results show that:(1)the ETP reduces sulfur dioxide(SO2)emissions indicating the effectiveness of the policy;(2)the policy significantly improves industrial green innovation efficiency,meaning it promotes the sustainable development of the economy;(3)heterogeneity analysis highlights that ETP produces greater benefits for the most polluted regions of China which have more strict environmental regulations.The study examines the effect of emissions trading policy implementation from a new perspective.The study also provides a reference point for China to further refine its policy mechanisms and for other countries to formulate suitable ETP.
文摘Hainan is transforming into a world-class hub,with expanded free trade policies,robust infrastructure and global business opportunities The Hainan Free Trade Port(FTP)officially launched island-wide special customs operations on 18 December 2025.One month in,reporters from China International Communications Group(CICG)conducted an exclusive interview with Feng Fei,secretary of the Hainan Provincial Committee of the Communist Party of China(CPC)and chairman of the Standing Committee of the Hainan Provincial People’s Congress.
基金support was obtained from the Fundamental Research Funds for the Central Universities[Grant No.JBK2307090].
文摘With intensifying global climate change,humanity is confronted with unparalleled environmental challenges and risks.This study employs the staggered difference-in-difference model to examine the relationship between climate policy and green innovation in the corporate financialization context.Using Chinese-listed company data from 2008 to 2020,our analysis reveals a favorable correlation between China’s carbon emission trading policy(CCTP)and advancements in green innovation.Furthermore,we find that the level of corporate financialization moderates this correlation,diminishing the driving effect of CCTP on green innovation.Additionally,results of heterogeneity analysis show that this moderating consequence is more evident in non-state owned and low-digitization enterprises compared with state-owned and high-digitization ones.Our findings contribute to the existing literature by clarifying the interaction between CCTP,green innovation,and corporate financialization.Our research provides valuable insights for policymakers and stakeholders seeking to strengthen climate policies and encourages green innovation in different types of businesses.
文摘THE Hainan Free Trade Port(FTP)officially launched island-wide special customs operations on December 18,2025.One month in,a reporting team from China International Communications Group(CICG)conducted an exclusive interview with Feng Fei,secretary of the Hainan Provincial Committee of the Communist Party of China(CPC)and chairman of the Standing Committee of the Hainan Provincial People’s Congress.
基金Peking University Shenzhen Graduate School, ChinaPeking University School of Transnational Law, China
文摘Established within the framework of the World Trade Organization （WTO）, the Trade Policy Review Mechanism （TPRM） reviews periodically the trade policies of all WTO Members. The review includes many aspects of food safety regulation. China＇s trade policy is reviewed every two years. This paper analyses in detail the reviews of China＇s trade policy in 2006, 2008, 2010, 2012 and 2014. It focuses in particular on food safety laws and types of standards, alignment of domestic standards with international standards, the role of different domestic institutions, transparency and notification of food safety measures under the WTO agreements on Sanitary and Phytosanitary Measures （SPS） and on Technical Barriers to Trade （TBTAgreement）, import and export, and geographical indications （GIs）. It concludes that the WTO TPRM can contribute, within its mandate, to reform of Chinese food safety laws and improvement of food safety in China. it notes that China has already undertaken substantial reforms of its system for regulating food safety. It recommends that China should continue to participate actively in the TPRM, follow its own path with regard to alignment and learn selectively from other WTO Members.
文摘This paper aimed to highlight the effects of conflict in Mongolia on trade policy and openness, by estimating the trade flows with neighbor countries （China and Russia）. Fourteen years＇ （2000-2013） data of Mongolian imports and exports were collected and gone through principal component analysis （PCA） and empirical analysis for grouping various trades with China and Russia. The empirical analysis identified the determining factors of Mongolian trade flow and openness with China and Russia. Empirical analysis evidenced that Mongolian trade and openness policy raised bilateral trade between China and Russia, leaving a great influence on economic size. Two main questions represented as empirically tested by each sample country. How did Mongolian trade policy and openness influence trade flows between China and Russia and economic growth of Mongolia？ Did Mongolian trade policy and the bilateral trade with China and Russia increase on trade openness？ Finally, the study focused on the forecasts from 2016 to 2018 to examine Mongolian trade flows with China and Russia using ordinary least squares method and autoregressive-moving-average （ARMA） model. China-Mongolia-Russia trade flows will continue to dominate during the forecasted period. As shown by the structure of export and import, goods with China and Russia influenced the mutual trade amount. Moreover, China and Russia traded to continue with Mongolia for goods in long run. Trade policy and openness, the major contributor in Mongolian economy, are significantly playing roles in trade and economy.
文摘Thailand has currently enhanced and promoted intensive trade and investment liberalization and implemented long-term growth policy according with current regional economic integration, WTO obligations and globalization. Nevertheless, several recent internal and external factors e.g. the massive SARS and avian flu outbreaks, the Indian Ocean tsunami devastation, the Asia financial crisis and domestic policy reforms （ICSEAD, 2006） have also impeded this policy. While the issues are important for Thailand and developing countries in Asia, only limited research has been undertaken to investigate them. The paper conducts a substantive quantitative study to contribute to these trade and development policy issues. A new econometric modelling policy method, namely the generalized gravity theory （Tran Van Hoa, 2004） is used to develop a simple flexible simultaneous-equation econometric model of Thailand＇s openness model with its seven major trade partners （ASEAN-4, Australia, the USA, the EU, China, Japan and India）. Using data from the ICSEAD, the World Development Indicators and the Bank of Thailand databases, the paper reveals efficient and reliable empirical findings on trade-growth causality, trade determination including the impact of shocks and policy reform on trade and growth between Thailand and its major trade partners over the past two decades. The paper also provides evidence on the linkages between trade in goods, FDI and services and regional economic integration for more credible policy implications.
文摘We present a novel tool for generating speculative and hedging foreign exchange(FX)trading policies.Our solution provides a schedule that determines trades in each rebalancing period based on future currency prices,net foreign account positions,and incoming(outgoing)flows from business operations.To obtain such policies,we construct a multistage stochastic programming(MSP)model and solve it using the stochastic dual dynamic programming(SDDP)numerical method,which specializes in solving high-dimensional MSP models.We construct our methodology within an open-source SDDP package,avoiding implementing the method from scratch.To measure the performance of our policies,we model FX prices as a mean-reverting stochastic process with random events that incorporate stochastic trends.We calibrate this price model on seven currency pairs,demonstrating that our trading policies not only outperform the benchmarks for each currency,but may also be close to ex-post optimal solutions.We also show how the tool can be used to generate more or less conservative strategies by adjusting the risk tolerance,and how it can be used in a vari-ety of contexts and time scales,ranging from intraday speculative trading to monthly hedging for business operations.Finally,we examine the impact of increasing trade policy uncertainty(TPU)levels on our findings.Our findings show that the volatility of currencies from emerging economies rises in comparison to currencies from devel-oped markets.We discover that an increase in the TPU level has no effect on the aver-age profit obtained by our method.However,the risk exposure of the policies increases(decreases)for the group of currencies from emerging(developed)markets.
文摘In this research work, the author focuses on the analysis of the trade interests in foreign policy of the Global South. What indicates the importance and innovativeness of the research is the presentation of the new models of the foreign trade policy and trade interests of Global South. First of all, it must underline that in the new theoretical terms in the demand for trade policy very important is factor specificity. The low specificity of factors means that factor returns are equalized throughout a region＇s economy. Moreover, some factors are stuck in their present uses; therefore, factor returns are not equalized throughout a region＇s economy, but are industry specific. The main objective of the research task is to give a comprehensive analysis of the models of foreign trade policy, trade interests indicated by export orientation and import sensitivity, protectionistic pressures in different political system and different types of authoritarian regimes of Global South, the level of protectionistic pressures, the rise of qualitatively new politics in North-South relations like bilateral tendencies. It should be stressed that free trade in itself is not responsible for economic growth, but more significant are the determining macroeconomic stability and increasing investment of Global South.
文摘In this research work, the author focuses on the analysis of the diffusion of bilateral tendencies in the common trade policy of the European Union （EU） during the global financial and economic crisis. Realistic point is important trends in the trade regime during the economic crisis. The decisions taken by the representatives of the governments participating in the World Trade Organisation （WTO） are, to a significant degree, influenced by various lobbies, such as organisations and unions of food producers or other non-governmental organisations, including trade unions, The main objective of the research task is to give a comprehensive analysis of the international trade policy during the world financial and economic crisis 2008-2010. The particular mains concern the political economy models of foreign trade policy, protectionistic pressures in different political system, the level of protectionistic pressures, food producer pressures, international trade liberalization, and environmental protection bilateral tendencies in the common trade policy of the EU and the respond of the EU to the economic crisis, it must be emphasized that on a theoretical level, understanding the choice of trade policies between liberalizm and protectionisme is very important. Despite the undeniable benefits of the multilateral WTO forum for trade liberalisation, the rapid increase of North-South bilateral and multilateral Free Trade Areas （FTAs） begs a systematic explanation for why some forums are prioritized relative to others.
文摘China is Korea’s main trade partner in East Asia and one of its key economic and trade partners worldwide.The two countries have complementary industrial structure and a long history of trade exchanges.However,against the backdrop of a return to global trade protectionism and the politicization of international affairs with Yoon Suk-yeol coming to power,South Korea has undertaken a strong trade shift toward the United States(US),triggering a change in the pattern of economic cooperation in East Asia and challenging the regional trade structure.A review of the trade policy agenda of the Yoon Suk-yeol administration toward the US and China,along with a comparative review of Korea’s foreign trade stance under Moon Jae-in,allows for an analysis of the turnaround and characteristics of Yoon’s trade policy toward China during his tenure.The implications for global trade governance and regional security are further analyzed with an aim of finding a Nash equilibrium in trade cooperation among East Asian countries.
文摘The Southern Common Market (hereinafter referred to as MERCOSUR) is the most important regional organization in South America,and its major member countries are also important import sources of bulk agricultural products in China.In recent years,amid increasing uncertainty in global trade policy,MERCOSUR has accelerated the signing of free trade agreements with other countries and diversified its trading partners to reduce the risks posed by the international market.
文摘The Asia-Pacific region is the most dynamic part of the global economy.After over 50 years of continuously expanding trade,investment and industrial cooperation,the region has formed a highly-tied multi-level labor division system covering vertical integration and horizontal complementarity of industrial chains.From the V-shaped development model in the twentieth century to the East Asian production network in the twenty-first century,the intra-industry and intra-product division of labor in the Asia-Pacific region has been ever deepening.However,due to the region’s high dependence on the U.S.market,the division of labor model in the Asia-Pacific suffers structural problems and is relatively fragile.Under the shock of Trump 1.0,countries in the Asia-Pacific region were forced to make adaptive adjustments,causing short-term turmoil in the regional economic order.Trump’s strong return in 2025,driven by the“America First”principle,brought forth a series of policies with strong unilateralism,isolationism and protectionism tendencies within just a few months。
基金Researchers Supporting Project number(RSP2025R87),King Saud University,Riyadh,Saudi Arabia.
文摘Financial integration plays an important role in fostering global economic growth.Energy demand,technology transfer,sustainable production,and climate change have emerged as key drivers of sustainable development.This study explores the influence of financial integration,bolstered by renewable energy-induced trade,industry-driven technology,and environmental concerns,on regional economic growth.This study analyzes a panel of 39 high-and upper-middle-income European and Central Asian countries in 2017–2021.Using a panel generalized method of moments estimator,we reveal an inverted U-shaped relationship between regional economic growth and carbon emissions.Moreover,renewable energy-induced trade contributes positively to regional growth while trade openness and technology transfer further enhance this growth.Industry-driven technology negatively impacts regional growth owing to inadequate financial integration.The absence of sustainable energy infrastructure and industrialization also negatively impacts regional growth.Our study underscores the importance of increasing financial integration to promote sustainable energydriven trade openness and technology transfer in line with the United Nations’sustainable development agenda.
文摘This paper attempts to investigate the effects of several financial and trade policies on the total investment in Syria, over the period 1980-2010 （before the current war）. The study employs Johansen co-integration test to check the presence of long-term relationship between explanatory and dependent variables. In addition, Vector Error Correction Model （VECM） further studies the causal relationship from dependent variable to independent variables. The Johansen co-integration test indicates a significant long-term relationship among the variables. Moreover, the Vector Error Correction Model also suggests the long run causality from the imports, exports, capital public expenditures, and subsidies to total investment. The study’s result indicates that the imports and the capital public expenditures played a significant role in supporting the total investment in the country before the war, while there was a negative role of exports in the total investment, and there was no impact of subsidies on the total investment. Before the war, foreign investment in Syria was over dominated by European Union. The paper proposes to diversify the target of investment flow to Syria, especially from China and the other BRICS countries that can take advantages from Syria and can support Syria economy after the war by the strategy of “One Road One Belt”. Theseresults may assist Syrian policy makers, after the war, to develop an economic plan that takes into account the effects of these policies to improve the total investment which will help Syria in rebuilding the economy.
